GREENVILLE, South Carolina – (COMMERCIAL THREAD) –Sage automotive interiors (a company of Asahi Kasei) has now entered into an agreement to acquire the automotive textile business of Adient (NYSE: ADNT).

Sage Automotive Interiors has paid $ 175 million and received regulatory approvals under the deal announced on March 5, 2020.

“Strengthening our position in Europe will allow us to better support multiple OEMs locally and more broadly, as we combine the best of both companies’ operations,” said Dirk Pieper, CEO of Sage Automotive Interiors.

“We are looking to expand the capacity and capability of automotive interior products in the European market in order to maintain our global position as the # 1 preferred automotive interior company,” said Pieper.

Committed to developing innovative designs and creating high performance interiors without compromising the environment, Sage is a global company with more than 30 locations in 19 countries.

“Europe continues to be a key growth area for Sage Automotive Interiors. In addition, the technology and capabilities that will now be part of Sage Automotive Interiors will strengthen our ability to serve customers from our current locations in Europe and the rest of the world, ”said Pieper.

Sage Automotive Interiors (www.sageautomotiveinteriors.com) is a leading global supplier of automotive interior materials (seats, door panel surfaces and headlining) to automotive original equipment manufacturers (OEMs). Global offices and manufacturing sites include the United States, Japan, China, Brazil, Korea, India, Thailand, Mexico, and Europe. Sage has strengths in consumer research, durability and innovative problem solving for the OEM. Sage’s vision is to be the market leader in design, engineering and technical capabilities backed by world-class manufacturing. Sage Automotive Interiors is an Asahi Kasei company (TYO: 3407).